Here we go againThese is really getting tiresome. WTI now just nudging $79.00. We see to be on this eternal see-saw...up to $82 then back down to the $68 range. This is hardly a Demand/Supply issue - neither occilates with such regularilty every 3 weeks. This is pure manipulation by tose with deep pockets who I suspect ae making a fortune here. It really doesn't matter what the talking heads forcast for oil companies...if the price of oil is being controlled in this manner then all these forecasts are meaningless.
Would really like to get back to an even playing field where the price is dictated by demand and supply...at least then we can make an educated decision whether to add or bail on these companies. Without that it's just a flip of the coin or treating these companies not as "investments" but rather as penny stocks and just play the swings.
Too bad I bought in when WTI was in the high 80's...the only way I have left to play the swings to to sell at a huge loss and then play with what's left.
So much for beng a "long investor" - even the divi doesn't make up for this mess
Sigh
GLTA
Rusty